Getting to know Southey & Co

Getting to know Southey & Co

An interview with Key Account Director, Gary Shaw

1. Can you tell us about your background and experience in the field of property law and private client services? What drew you to join Southey & Co?

I have dedicated the past 3 years of my career to specialising in the legal services industry, I honed my skills at a reputable probate lender who were first to market and a market leader. During my time there I had the privilege of handling a diverse range of cases, from complex transaction to intricate estate planning matters. Prior to this, and for my sins, I spent around 15 years as a corporate bank manager where my experience extended to the property sector, dealing with and financing commercial, residential and retail properties.

After getting to know the leadership team at Southey and Co, as a client, it was obvious that the that they have a sterling reputation and that their track record of delivering exceptional legal services to the private client sector is unparalleled. The depth of expertise and the commitment to client-centric solutions aligns seamlessly with my own professional values.

2. Could you describe the unique aspects or specialised services that this property company offers to private client solicitors?

Absolutely, Southey and Co distinguishes itself in several key areas that make it a prime choice for private client solicitors seeking specialised services in the field of probate property. It has been simply described by some clients as a ‘wrap around service’ for all things probate property related. In short, Southey and Co offer bespoke solutions to solicitors who are managing an estate where the main asset is the property. For me there are

4 keys points of the property management stage – Insurance, Valuation, Maintenance and Sale. These specialised services, combined with unwavering commitment to excellence, set Southey and Co apart as a leading choice for private client solicitors.

3. What are your primary responsibilities and goals in your new role here? How do they align with the company's mission and vision?

In my new role here at Southey and Co, my primary responsibilities revolve around providing top-tier legal support to the private client sector. Moreover, I am committed to ensuring that each client receives personalised attention, tailored solutions and the highest level of attention given that we are dealing (in many instances) with the main asset in the estate. These responsibilities directly align with Southey and Co’s mission and vision. By providing specialised expertise in dealing with probate property, I contribute to the firm’s reputation for excellence and its dedication to meeting the unique needs of each client.

4. In your opinion, what are some emerging trends or challenges that private client solicitors should be aware of in today's market?

In the realm of Probate property there are many emerging trends and challenges that are shaping today’s market. However, no two probate matters are ever the same. The biggest challenges I come across relate to the length of the probate process, and the fluctuating property market conditions due to external economic factors.

Firstly, obtaining probate has become a lengthy process in the UK. In general conversation with industry experts, it is clear that in many instances, professionals have their hands tied and are reliant on the probate registry. This can create lengthy delays, delays which impact the property in the estate and can lead to extreme costs relating to managing the property from an insurance, maintenance, and valuation perspective.

Secondly, in the property market today, with interest rates steadily increasing and the cost-of-living crisis biting, higher monthly mortgage payments mean potential homebuyers need to be certain that a property is right for them before making an offer. This has led to an increased number of sellers reducing their asking prices to secure a sale. Last month, 36% of properties listed for sale were reduced, which is 5% higher than the 5-year pre-pandemic average for this time of year, and the highest overall number since 2011.

For a probate matter, these two factors combined, mean that it almost becomes essential for a property management company, such as Southey and Co to manage the process from end-to-end.

5. Can you share an example of a recent success story that the company has been involved in?

Of course! One of our recent notable success stories involved a complex estate with circa 80 properties. These properties were made up of retail, commercial and residential units. It had become contentious, and our client (who represented the executor) was tasked with potentially separating out the commercial and retail units from the residential units to value the estate for IHT purposes.

Given all that was happening in the estate, the solicitor did not have the capacity to arrange this. We had our team contact the relevant parties and arrange the valuations for all of the properties without the solicitor having to get involved. We have since provided all the reports and expect to be required to provide ancillary services to the estate such as insurance and maintenance, and, when the time is right, to market most of the properties as soon as the litigation process has concluded.

This was a great example of how we take the complex issues from the solicitor’s desk and put them on to ours. ■